USDCHF finds solid support – Analysis - 22-01-2018

Economies.com
2018-01-22 05:39AM UTC

The USDCHF pair found solid support at 0.9564 barrier, which forced the price to rebound bullishly to approach testing the key resistance 0.9655, met by the EMA50 to add more strength to it, while stochastic shows clear overbought signals now.

 

Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, as our next main target is located at 0.9420, noting that the continuation of the expected decline depends on holding below 0.9655 and 0.9727 levels.

 

Expected trading range for today is between 0.9564 support and 0.9670 resistance.

 

Expected trend for today: Bearish

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